1 comment:

Neil Craig Interesting to see the yanks have the same problem since they have more land per person & somewhat less regulation than here.

My position remains that so long as government stops us using new land & mass production off site building methods we will continue to build less than 1% (ie replacement) & there is no risk of a long term house price crash. Massive spikes in prices are a sign of a market where demand does not effect supply.

I have no doubt that if the technological progress shown in car manufacturing over the last century were allowed to be used in the building industry houses would cost well under 1/2 the present amount (& be a lot less draughty). On the other hand the effect on the credit economy would be frightful. On the 3rd hand when it settled we would have a lot morespare income.